Eswatini becomes the 132nd country to join the “Inclusive Framework on BEPS”
The OECD on July 26 announced the that southern Africa nation of Eswatini has joined the inclusive framework on BEPS. ... - Continue reading
Category: Swaziland
Coca-Cola Fights $9.4 Billion Transfer Pricing Adjustment
Dec. 14 — The Coca-Cola Co. filed a petition in U.S. Tax Court challenging a proposed $9.4 billion income adjustment related to the company’s transfer pricing for tax years 2007-09 (Coca-Cola Co. v. Commissioner, T.C., petition filed, 12/14/15). If the adjustment is sustained, the company could face a tax bill… – Continue reading
ATAF pushes for scrapping of double taxation
THE African Tax Administration Forum (ATAF) has come up with a draft document on avoidance of double taxation and prevention of fiscal evasion within the continent. The Zimbabwe Revenue Authority (Zimra), a member of ATAF, has said avoidance of taxation and prevention of fiscal evasion was with respect to taxes… – Continue reading
Swaziland to collect tax from US citizens, firms
Swaziland will implement the United States Foreign Accounts Tax Compliance Act FATCA 2010 by collecting tax from US individuals and companies operating in the country.APA learnt on Friday that the act, whose objective is the facilitation of the exchange of financial information between US and other countries where its citizens… – Continue reading
Govt to implement United States FATC Act of 2010
THE United States of America (USA) wants all companies of US origin, individuals and body corporates that are resident in Swaziland to report their financial information in their home country, the USA. This development is a result of Swaziland government announcing that it will implement the United States Foreign Account… – Continue reading
Ramaphosa and MTN’s offshore stash
Emmanuel Mayah, Jeff Mbanga, Francis Kokutse and Nick Mathiason contributed to this joint investigation by the M&G Centre for Investigative Journalism (amaBhungane) and Finance Uncovered, a global reporting project involving journalists in 54 countries. Shortly after Cyril Ramaphosa left MTN to become South Africa’s deputy president last year, he lashed… – Continue reading
SALGAOCAR BOSS ACCUSED OF ROBBING SD BILLIONS
MBABANE – City Press has alleged that the Swazi government has been robbed of billions of Emalangeni in the mining deal of iron ore at Ngwenya mine as the funds were siphoned off to the Seychelles in an abusive transfer pricing scheme. Financial statements of Shanmuga Rethenam’s companies have revealed… – Continue reading
Govt to add more and raise taxes
AMidst the continued decline in the country’s Southern African Customs Union (SACU) receipts, government has decided to enhance domestic revenue which will see the introduction of new taxes and a possibility of increasing some. Minister of Finance Martin Dlamini speaking during breakfast meeting hosted by the Federation of Swaziland Employers… – Continue reading
Govt to introduce capital gains tax
Minister of Finance Martin Dlamini said the proposed revenue measures would assist government in mobilising additional resources for protecting essential services while Southern African Customs Union (SACU) revenues fall in the medium term. He said these initiatives include an amendment of the Income Tax regulations, including removal of the tax… – Continue reading
Island signs tax co-operation agreement with Swaziland
The Isle of Man has signed a Tax Information Exchange Agreement (TIEA) with the Kingdom of Swaziland.The TIEA was signed by Eddie Teare MHK, the Isle of Man’s Treasury Minister, in the Isle of Man, and by Senator Martin G. Dlamini, Swaziland’s Minister for Finance, in Swaziland, and exchanged by… – Continue reading
Isle of Man signs tax agreement with Swaziland
A Tax Information Exchange Agreement with Swaziland has been signed by the Manx government. The TIEA was signed in the island by Treasury Minister Eddie Teare MHK and by Senator Martin G. Dlamini, Swaziland’s Minister for Finance, in the African kingdom, and exchanged by post. Mr Teare said: ‘The signing… – Continue reading
